Atlanta Homeowners Face Rising Hidden Costs, Analysis Finds

SEATTLE, WA — Atlanta homeowners are facing hidden costs that average $17,549 each year, according to a recent analysis by Zillow and Thumbtack.

This figure includes $11,878 for maintenance, $3,504 for property taxes, and $2,167 for insurance. The analysis reveals that home insurance premiums in Atlanta have surged by 58% since February 2020.

These rising costs are occurring faster than household incomes, creating affordability challenges for many homeowners. Nationwide, the hidden costs of homeownership have reached an average of $15,979 per year.

Kara Ng, a senior economist at Zillow, highlighted that “insurance premiums have surged 48% in the past five years, exceeding household income growth.”

Home maintenance is often overlooked when budgeting for the year, according to Morgan Olsen, a home expert at Thumbtack. This aspect of homeownership should not be underestimated.

The report also points out that in coastal metro areas, hidden costs are even higher, with New York City residents facing average expenses of $24,381 and San Francisco homeowners spending about $22,781.

In Florida, cities like Miami report a staggering 72% rise in insurance premiums over the past five years, with similar trends seen in Jacksonville, Tampa, and Orlando.

Thumbtack’s data also emphasizes essential annual maintenance costs such as appliance maintenance, gutter cleaning, and lawn care, which add significantly to total expenses.